U.K. Materials Undervalued based on future growth

Pan African Resources

Market Cap: UK£1.6b

Engages in the mining, extraction, production, and sale of gold in South Africa.

Hochschild Mining

Market Cap: UK£1.5b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits in Peru, Argentina, the United Kingdom, Canada, Brazil, and Chile.

RHI Magnesita

Market Cap: UK£1.0b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

Atalaya Mining Copper

Market Cap: UK£767.1m

Engages in the mineral exploration and development in Spain.

Essentra

Market Cap: UK£280.7m

Engages in the manufacturing and distribution of plastic injection moulded, vinyl dip moulded, and metal items in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Sylvania Platinum

Market Cap: UK£205.5m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Serabi Gold

Market Cap: UK£172.7m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Jubilee Metals Group

Market Cap: UK£97.8m

Jubilee Metals Group plc operates as a diversified metals processing and recovery company.

Petropavlovsk

Market Cap: UK£47.5m

Petropavlovsk PLC operates as a gold mining company in the Far East of Russia.